Placing a trade meant you had to perform intensive research into the particular asset, call up your broker, and instruct them to place your order.
The shape of online trading changed tremendously from 2010, when advanced charting tools, automated software, and advanced interfaces were introduced. And retail trading started to grow steadily.
However, a significant spike in online trading occurred in 2020; according to a Bloomberg Intelligence report, the retail trading market volume increased by almost 20%. This even surpassed hedge funds and bank trading volumes.
Why the sudden spike in trading volumes?
As mentioned, people have been trading online for decades, but the sudden surge in trading volume means many more are signing up to trade.
The most significant contributing factor is the Covid-19 pandemic’s consequences leading to many adapting their work and personal lifestyle. Working from home is the order of the day, creating a flexible environment for people to start trading.
The surge in crypto traders accompanied the spike in the stock market and forex trading. Blockchain has reported over 68 million crypto wallet users in February of 2021. In addition, there has been a surge in the trading of Bitcoin exchange securities as more investors are finding cryptocurrencies as an alternative to currencies and choose it as a safe haven for investment.
Is it worth it to trade online?
A few reasons as to why online trading is so attractive could be:
- Trading on the go with a stable internet connection
- Low investment is required to start trading
- Time flexibility, forex markets are open 24/5 and crypto markets 24/7
- It can become a passive source of income
But trading has its downsides, and if you intend to take it up part time or full time, you need to equip yourself with the right knowledge.
And even if you possess all the right traits to start trading, you will need to sign up with a broker to ease the process.
This is a brand called Omplix, a cryptocurrency broker whose aim is to provide an excellent user experience.
Omplix allows crypto trading via their web-based platform, which is equipped with multiple tools and quick trade execution. Navigation on the platform is easy and accessible from numerous devices.
Omplix ensures the safety of users’ funds by using the latest in security solutions, which include next-generation technology. In addition, their policies demand strict compliance to prevent any threats to user’s information.
Omplix has provided an informative blog covering account security, crypto trading strategies, and tips to trade crypto effectively.
Their customer support is available 24 hours, five days a week and can be reached by email or live chat service.
The popularity of online trading is not dying down soon; the world is still not out of the pandemic. And for many individuals, this current situation can become permanent irrespective of the pandemic. Therefore, if you intend to start trading, ensure you gain the proper knowledge and join a reliable broker. Omplix’s mission is to make the process easy for novice and experienced traders; they also have all the safety protocols and advanced trading solutions required for the active crypto trader.